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US can end the restrictions on Huawei company with progress “Trade Deal” Says Treasury Secretary

The United States can ease off its restrictions on Chinese telecom Huawei, says US Treasury secretary Steven Mnuchin, if the US and China make progress in coming up with a trade deal,

The letter, sent last Tuesday by White House acting budget chief, Russell Vought, requested that some restrictions against Huawei sales be delayed for two years “to ensure the effective implementation of the prohibition without compromising desired security objectives”.

At a meeting of G20 finance ministers in Fukuoka, Japan on Sunday, US treasury secretary Steven Mnuchin said Donald Trump might ease restrictions on Huawei if there is progress in the trade row with China – but added that without a deal, Washington will maintain tariffs to cut its deficit.

The Pentagon’s 2020 spending bill, signed into law last year, placed a broad ban on federal agencies and contractors using federal money to purchase Huawei products, citing national security concerns. Huawei, the world’s largest telecoms network gear maker, has repeatedly denied it is controlled by the Chinese government, military or intelligence services.

 

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